New Delhi, May 6 -- India's services sector recovered some of the ground lost in March, accelerating growth in April, the first month of the new fiscal year, as new business intakes and output rose, a private survey showed on Wednesday.
The HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 58.8 in April from 57.5 in March, making return to growth after registering a 14-month low in growth in the previous month. It was the strongest rate of expansion since last November.
Indian services companies welcomed a recovery in growth of both output and new order intakes during April, S&P Global said in a statement.
Despite, monthly swings, the index has remained above the 50-point threshold separating expansi...
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